Get Approved at The Lowest Rate
Securing a down payment can be one of the biggest challenges on the path to homeownership. That’s why we’re thrilled to offer a comprehensive Down Payment Assistance (DPA) program in Franklin, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Franklin, AL provides a financial boost to eligible homebuyers in Franklin, AL, making it easier to cover the upfront costs of purchasing a home. This assistance is available in the form of a forgivable grant, which means you don’t have to repay it under certain conditions.
Our DPA program is available in most states across the U.S., excluding Washington state. This extensive reach ensures that many aspiring homeowners in Franklin, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Franklin, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Franklin, AL, which can be used for closing costs. This flexibility allows for a more manageable and less stressful home-buying experience.
Enjoy the freedom of homeownership in Franklin, AL without any resale restrictions. You can sell your home whenever you choose without worrying about penalties or limitations.
To qualify for our FHA Down Payment Assistance program, you need to meet the following criteria:
A FICO score of 580 qualifies you for Approve/Eligible status in Franklin, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Franklin, AL.
If you’re still working, you must either be retired or actively volunteer in your community.
We are committed to guiding you through every step of the home-buying process in Franklin, AL. Our experienced team will work closely with you to explore your options, ensuring you make informed decisions that suit your financial situation and homeownership goals.
Don’t let the down payment be a barrier to your dream home. Contact Horizon Lending Services today to learn more about our FHA Down Payment Assistance program in Franklin, AL and take the first step towards owning your home. Our dedicated professionals are here to help you navigate the complexities of home buying with confidence and ease.
Let Horizon Lending Services be your trusted partner in turning your homeownership dreams into reality.
FHA Down Payment Assistance Home Loan offers various benefits to potential homebuyers in Franklin, Alabama. The program allows for a lower down payment requirement, making homeownership more achievable for individuals with limited savings. Additionally, the FHA loan provides competitive interest rates and flexible qualification criteria, catering to a wide range of borrowers. Demographically, Franklin, Alabama, is a diverse community with a mix of young professionals, families, and retirees. The area boasts a thriving economy with opportunities in industries such as healthcare, education, and manufacturing. The region's population is known for its community-oriented spirit, making it an ideal place to settle down and raise a family. In terms of the housing market, Franklin, Alabama, offers a range of housing options to suit various preferences and budgets. The market is characterized by steady growth and stability, with affordable home prices and relatively low property taxes. With the assistance of FHA loans, first-time homebuyers can enter the market with ease, contributing to the overall growth of the real estate sector. Main attractions in Franklin, Alabama, include the picturesque Franklin Park, which offers recreational activities for residents of all ages. The local dining scene is vibrant, featuring a mix of international cuisine and traditional Southern fare. Moreover, the region's proximity to natural landmarks like the Franklin National Forest makes it a popular destination for outdoor enthusiasts.
Benefits of FHA Down Payment Assistance Home Loan in Franklin, Alabama
